Real estate magnates Craig Robins and Jackie Soffer have recently concluded the sale of their opulent Miami Beach residence, located on the waterfront, for $36 million. This transaction reflects a reduction of approximately 20 percent from its initial listing price.
Back in February, Soffer, the CEO of Turnberry Associates based in Aventura, and Robins, the CEO of Dacra based in Miami, listed the property at 2511 Lake Avenue on Sunset Island II for $45 million. Although sources indicate that billionaire media tycoon Barry Diller, wedded to renowned fashion designer Diane von Furstenberg, expressed interest in the property, he ultimately did not acquire it.
According to MLS records, the sale was finalized on a recent Friday, yet the identity of the new owner remains undisclosed, as does the future residence of Robins and Soffer.
Facilitating the deal on both ends were Jill Hertzberg and Jill Eber of Coldwell Banker’s esteemed Jills Zeder Group. As of now, Hertzberg has not provided a comment on the transaction. Notably, reductions in asking prices have become more prevalent this year within the luxury real estate market, a response to the gradual normalization from the record highs of 2021 and 2022.
The sprawling Sunset Islands abode, spanning an impressive 9,000 square feet, has been the shared residence of the developer couple since their nuptials in 2015. Together, Soffer and Robins have a blended family of six adult children, with each bringing three offspring from prior unions.
Property records indicate that Robins initially acquired the estate for approximately $1.3 million back in 1997. Originally constructed in 1940, the home has undergone extensive expansions and renovations over the years.
Situated on a 0.6-acre plot, the property boasts an array of amenities, including a pool, alfresco dining and lounging areas, a well-appointed library, and even a half-basketball court. Notably, it features a bespoke, all-white, sinuous bathroom designed by the late Zaha Hadid, a distinguished architect and close associate of Robins. Hadid, celebrated for her design of downtown Miami’s One Thousand Museum condo tower, passed away in Miami Beach in 2016.
Robins, in collaboration with L Catterton Real Estate and Brookfield Properties, has been instrumental in transforming the Design District into a high-end retail and dining enclave, home to a plethora of prestigious designer labels and upscale eateries. In a substantial transaction late last year, his entity, Miami Design District Associates, partnered with Qatari firm Constellation Hotels Holding, developer Nadim Ashi’s Fort Partners, and New York-based private equity firm Raycliff Capital to secure a significant assemblage for $165 million.
Meanwhile, Soffer’s Turnberry Associates is actively co-developing the ambitious $4 billion SoLé Mia community in North Miami alongside LeFrak. Additionally, she oversees operations at the expansive 2.8-million-square-foot Aventura Mall in partnership with Turnberry’s collaborator, Simon Properties. Plans are also underway for the joint development of a Hyatt-branded hotel at the Miami Beach Convention Center, in conjunction with Terra’s David Martin.
